BUSINESS PLAN FOR NAAN PALACE CHIRAG KANTHARIA 2001 KARAN MISTRY 1957 MISSION >Great tasting food, but have efficient and friendly service >Choice for all families and singles, young and old, male or female. >Employee welfare OBJECTIVES >Keeping food cost under 35% revenue. >Stay in the restaurant business with excellent food and service. >Expand our marketing and advertising in neighboring areas and cities. Future Plan If the business is meeting its projections in an year then, we will start scouting for a second location and develop plans for the next unit. 5 Year Plan ➢3 locations in different parts of the country like lodz, wraclaw, gdansk .. etc. ➢Although the restaurant industry is very competitive, the lifestyle changes created by modern living continue to fuel its steady growth. Strategy And Implementation Summary ➢ Our strategy is simple, we intend to succeed by giving people a combination of excellent and interesting food in an environment that appeals to a wide and varied group of people. > We will focus on maintaining quality and establishing a strong identity in our community. > We will keep our standards high and execute the concept so that word-of-mouth will be our main marketing force. > We will create an appealing and entertaining environment and food with unbeatable quality at an exceptional price. Marketing plan • Naan Palace has two marketing objectives. • The first is to create the awareness and provide the following information to the authorities of naan palace: To show the marketing position of the organization. To show the market share of naan palace To give suggestion to the higher authorities for the future improvement. This department provides the information about their competitors to the higher authorities of naan palace. • The second basic objective of Marketing Department is that it meets the budget in the required time span. The marketing department of naan palace Food is to promote its products and make the future plan to live in the budget. Market segmentation • Naan Place will be marketed to people on the basis of demographic, psychographic and geographic characteristics. • Behavioral characteristics: In behavioral aspect they segmented the market on the basis of quality, taste a price. Following are the different possible segments in this regard. • Taste conscious • Quality conscious • Class conscious • Combination of price and quality Target Market After evaluation of various segments we decided to target the market of urban and sub-urban areas as well as anyone can use this product businessman, students, workers etc. Sales Strategy > Word's Of Mouth > Discount Coupons > Free Home Delivery > Concentrating on the customer's experience > Offer various specials throughout the week that people can enjoy MARKET SEGMENTATION ● ● ● The Business Man Happy Couples The Family DUTIES & RESPONSIBILITIES >Creating new recipes to please customers >Hiring and supervising residential cooks >Estimating labour and food costs and altering menus to stay within budget >Arranging for equipment purchases and repairs >Checking the quality of raw and cooked food products >Assisting with staff development and training >Meeting with other managers in the organization LONG-TERM DEVELOPMENT Goals Naan Palace is an innovative concept that targets a new, growing market. ➢ We assume that the market will respond, and grow quickly in the next 5 years. ➢ Our goals are to create a reputation of quality, consistency and security (safety of food) that will make us the leader of a new s of dining.
